Worldcoin Market Overview: Volatile 24-Hour Move with Key Resistance at 1.02

Worldcoin (WLDUSDT) opened at 0.968 at 12:00 ET–1 and surged to a 24-hour high of 1.029 before retreating to a close of 0.918 at 12:00 ET. The pair traded between 0.910 and 1.029, with total volume of 100.37 million and turnover of ~99.3 million USD.

Summary

• Price spiked to 1.029 before sharp reversal and pullback to 0.918.
• Key 15-min support confirmed at 0.970–0.973; resistance at 1.020 failed decisively.
• Volatility expanded sharply during sell-off, with high-volume breakdown candle at 0.970.
• RSI hit overbought levels during peak before rapid oversold territory.
• Bollinger Band contraction preceding breakout suggests potential for further short-term swings.

Structure & Formations

The 15-minute chart revealed a sharp ascending wedge pattern forming between 0.970 and 1.020, which finally broke down at 19:45 ET with a large-volume candle. A shooting star at 1.020 and bearish engulfing pattern at 0.970–0.969 confirmed the bearish reversal. A doji at 0.948 signaled indecision and potential short-term consolidation.

Moving Averages

Short-term (20/50 15-min) averages crossed lower, confirming bearish momentum after the peak at 1.029. On the daily chart, WLDUSDT closed below its 50-day and 100-day moving averages, suggesting medium-term bearish bias.

MACD & RSI

The MACD histogram flipped negative and expanded during the bearish breakdown, signaling strong bearish momentum. The RSI spiked to 95 during the peak before collapsing to 30, indicating oversold conditions near the close. A potential short-term bounce may occur from 0.910–0.920, but a new bearish setup remains in play.

Bollinger Bands

Bands were in a contraction phase before the breakout at 19:45 ET, followed by a strong expansion during the rapid sell-off. The price closed near the lower Bollinger Band, indicating potential for a mean reversion in the short term.

Volume & Turnover

Volume spiked sharply at 19:45 ET with the breakdown candle, confirming the bearish reversal. Notional turnover rose to ~9.6 million USD during that period, while price continued lower despite reduced volume after 05:00 ET. A divergence emerged between price and turnover after 10:00 ET as selling pressure eased.

Fibonacci Retracements

Key 15-minute retracement levels showed 61.8% at 0.978 acting as strong resistance during the pullback, and 38.2% at 0.997 providing some support. On the daily chart, the 1.018–0.910 swing shows 38.2% at 0.961 and 61.8% at 0.926, aligning with recent support levels.

Worldcoin appears to be in a bearish phase following a sharp breakdown from key resistance. While a short-term bounce from 0.910–0.920 is possible, further weakness into 0.900–0.890 remains a risk if sellers regain control. Traders should monitor the 0.926–0.930 zone for potential entry points, but be cautious of volatility and liquidity risks ahead.